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High Performance Plastics Market is alculated to grow at a significant CAGR of 6.5% during 2022-2029 | Size, Trends & Forecast
High Performance Plastics Market
High-Performance Plastics Market is slated to register a CAGR of 6.5% over the period, 2022-2029
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-high-performance-plastics-market/
The factors driving the growth of High-Performance Plastics Market includes rise in the production of exterior and interior components of automobiles and aircraft, increasing use of high-performance plastics across end-use industries such as construction, aerospace and defense and growing demand for semiconductors and LED displays, around the world. According to the report published by Statista, the sales of semiconductor in the international markets was estimated around USD 595 billion in 2021 and is expected to reach USD 676 billion by the end of 2022, which will accelerate the market growth in the approaching years. Moreover, technological advancements in high performing plastics, high thermal and chemical stability and enhanced mechanical properties of high performing plastics, government policies mandating the use of high-performance plastics and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the High-Performance Plastics Market is hindered due to high price of raw materials.
Based on Type, the Polyphenylene sulphide (PPS, PSU, PES, PPSU) segment is predicted to grow at a robust CAGR during the forecast period
Increasing application of polymers in the manufacturing of sports equipment and consumer goods and electronics along with high elasticity and wrinkle-proof properties, are some of the factors propelling segment's growth.
Based on End-Use, the Automotive (Interior & Exterior) segment is projected to capture the largest market share over the forecast period
High performing plastics are light in weight, reduces fuel consumption and provides resistance from corrosion along with strict regulations imposed by governing bodies on fuel efficiency, are pushing segment's growth.
Based on Region, the European region is anticipated to hold the highest market share during the forecast period
As per the High-Performance Plastics Market Analysis, favorable Government policies regarding the prodcution of automobiles, growing concerns related to greenhouse gas emissions and climate change, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in European region.
Market Segmentation
Segmentation by Type
Polyphenylene sulphide (PPS, PSU, PES, PPSU)
Fluoropolymers (PTFE, PVDF, FEP, ECTFE, Fluoroleastomers)
Thermoplastics Polyimides (PI, PAI, PEI)
High Performance Polyamides (PPA, PA 9T)
Segmentation by End-Use
Automotive (Interior & Exterior)
Aviation (Interior & Exterior)
Railways
Marine
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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